Disliked{quote} There are others in this thread that are much more qualified to offer advice than myself but my points would be: 1. Control your losses and accept them. 2. Accept that you will not win every trade/day/week 3. Switch your emotions off when you enter your trading room. 4. Treat your trading as if you are an Algo. 5. Know when not to trade. 6. Zoom out of your chart and see the bigger picture. 7. Make the system fit you and not vice-versa. 8. Be more relaxed when trading. 9. Don't take anybodys word for anything......prove it yourself.Ignored
Last but not least the signal as i understand it it based on statistics. I mean it doesn't help me so far having a good win rate if i then still have to fix for all the losses because trading it alone would otherwise end up in net unprofitable results by the end of a period (like a month or so) but okay, i understand therefor the fixing is important.
The "trend" is rather unimportant to me at that moment i enter to press buy or sell. I think the trend for making a 5 Pips is always somehow not important? I mean you look to be in a trade for what, a few seconds, minutes, maybe an hour but that already would feel long to me. I am not sure if the "trend" is of any importance here.
Doing all that zooming in/out (multiple timeframes analyses) so far for me always only ended in a mixed up mind and more confusion than it was any help. I then get contradicting signals like said. It might help doing so for the more experienced discretionary trader. I might become one soon or later but for now i don't think that is a good thing for me to do.
The BillyBar signal for instance is then telling me to buy after price hitting the high of the range, M15 telling me to sell, H1 too, Daily No, Weekly is sideways and the Pivots are ignored all over the place by price or not. My confidence at that point i might had to enter the trade is then finally over and i would no longer know what to do and leave the trading platform at all for the day.
Because this is my only method/setup/strategy i watch and try to execute with the greatest discipline every morning, one day left out could already make a big impact on my overall monthly outcome. It would be only positive if that would even further increase my win rate after filtering out the losing examples only. But so far all i tried was still 50/50 at best then after applying such further filters.
If you enter after price crossing such pivot level for example, do you then wait for a price bar/candle to close below/above that level. Then my question would be (the part that is confusing me) you could wait for a M1 bar to close above/below (the NOW, in the moment) but you could also wait for a M15 bar to close. They all could give different pictures then. M1 might have closed below the pivot level and you entered, M15 then closed above again 15 min later and H1 closing another time below the level just 59 minutes later.
